CF Industries Holdings Inc. reported net earnings attributable to common shareholders of $498.2 million ($8.38 per diluted share) on sales of $1.71 billion for the second quarter ending June 30, 2013 compared to the year-ago $606.3 million ($9.31 per share) on sales of $1.73 billion. Strong nitrogen volumes during the quarter of 3.61 million mt, partially offset lower urea and phosphate prices and phosphate volumes.
CF said it was still able to achieve the second highest EPS on record.
CF says the outlook for agriculture remains positive and it expects U.S. corn acreage of 92 million acres in 2014. While that would be down from 2013, CF noted that this is still a historically high figure. It also believes nitrogen inventories were significantly drawn down during the past season and farmers will need a significant amount of nitrogen starting with the fall season.